Model of Islamic Wealth Management Based on Maqasid al-Shariah
DOI:
https://doi.org/10.22219/jibe.v3i02.7465Keywords:
Islamic wealth management, maqashid al-ShariahAbstract
Islamic wealth management has been aimed at choosing investment instruments so that their portfolios get maximum returns. The process of wealth management emphasizes wealth accumulation without linking it with Maqashid al-Shariah, such as how to safeguard assets (hifz al-mal), protecting assets oriented to offspring (hifz al-nasl) and so on. The orientation is on welfare in the world without involving elements of blessing and the pleasure of Allah SWT. This study uses a qualitative method through the postmodernism approach. First, the reconstruction of the model is associated with relevant values in Maqashid al-Shariah. Second, the researcher makes observations on the actions and thoughts of investors in interpreting investment and managing investment returns by shariah in the capital market. Third, applying the Islamic wealth management model based on Maqashid al-Shariah according to the results of the study. The output of this study is a model of asset management based on Maqashid al-Shariah as a grand theory in shariah stock investments in the capital market, to achieve the ultimate goal of prosperity in the world and the hereafter and provide positive benefits for all parties.
Downloads
References
Abdullah, Amin. (2004). Kalam philosophy in the era of postmodernism, Student Library, Yogyakarta.
Al-Ghazali, Al-Mustasfa. (1997). Juz I, Bairut: Daar al-Ihya ’al Turas al-abyAraby, p. 217.
Al-Jauza, http://www.scribd.com/doc/27492923/5-Theory- Postmodernism. Uploaded on Saturday, May 23, 2018.
Ariff and Shamser. (2017). Islamic wealth management: Theory and Practice. Journal of Islamic Studies, Volume 30, Issue 2, May 2019, Pages 293–297, https://doi.org/10.1093/jis/ety047.
Aziz, M. (2017). Perspektif Maqashid Al-Shariah dalam Penyelenggaraan Jaminan Produk Halal di Indonesia Pasca Berlakunya Undang - Undang Nomor 33 Tahun 2014 Tentang Jaminan Produk Halal. Al Hikmah.
Bakri, Asafri Jaya.(1996). Maqashid Shariah According to Al-Syatibi, Jakarta: PT Raja Grafindo Persada.
Basah, S., & Tahir, P. R. (2019). Towards Acceptance of Islamic Wealth, 4(24), 14–41.
Bello, G. B., & Maiyaki, A. A. (2013). Readings in Islamic Banking and Finance. IIIBF. Retrieved from https://books.google.co.id/books?id=0nCKrgEACAAJ
Bikas, E., & Saponaitė, V. (2018). Behavior of the Lithuanian investors at the period of economic growth. Entrepreneurship and Sustainability Issues. https://doi.org/10.9770/jesi.2018.6.1(4)
Chapra, M. U., & Bank, I. D. (2008). The Islamic Vision of Development in the Light of the Maq ā sid Al-Sharī‘ah. Jeddah.
Haji Besar, M. H. A., Abd Sukor, M. E., Abdul Muthalib, N., & Gunawa, A. Y. (2009). The Practice of Shariah Review as Undertaken by Islamic Banking Sector in Malaysia. International Review of Business Research Papers.
Jagongo, A., & Mutswenje, V. S. (2014). A Survey of the Factors Influencing Investment Decisions : The Case of Individual Investors at the NSE. International Journal of Humanities and Social Science.
Maskuroh, E. (2014). Kinerja Bank Shariah dan Konvensional di Indonesia. Justicia Islamica, 11(2), 187–218.
Metawa, N., Hassan, M. K., Metawa, S., & Safa, M. F. (2019). Impact of behavioral factors on investors’ financial decisions: case of the Egyptian stock market. International Journal of Islamic and Middle Eastern Finance and Management. https://doi.org/10.1108/IMEFM-12-2017-0333
Mutiara, N., Mursinto, D., & Maliki, Z. (2019). Community Participation in Village Development from Islamic Economic Perspectives. Journal of Innovation in Business and Economics, 3(01), 23–32. https://doi.org/10.22219/jibe.v3i01.7350
Omar, F. M. (2019). Inequality, concentration of wealth and ownership structure of Islamic banks: Some pertinent issues. International Journal of Ethics and Systems, 35(3), 444–465. https://doi.org/10.1108/IJOES-11-2018-0155
Safiullah, M., & Shamsuddin, A. (2018). Risk in Islamic banking and corporate governance. Pacific Basin Finance Journal. https://doi.org/10.1016/j.pacfin.2017.12.008
Sugianto, D. (2017). Manajemen Sekawan: Kami Mohon Suspensi Saham Dibuka. Retrieved June 12, 2019, from https://finance.detik.com/bursa-dan-valas/d-3728342/manajemen-sekawan-kami-mohon-suspensi-saham-dibuka
Tauni, M. Z., Fang, H. X., & Iqbal, A. (2016). Information sources and trading behavior: does investor personality matter? Qualitative Research in Financial Markets. https://doi.org/10.1108/QRFM-08-2015-0031
Yazi, E. (2015). The Effects of Shariah Compliance Announcement towards Stock Price Changes in Malaysia. Journal of Economics, Business and Management, 3(11). https://doi.org/10.7763/JOEBM.2015.V3.327
Zandi, G., Abdul Razak, D., & Hidayah Hussin, N. (2014). Stock Market Screening: An Analogical Study on Conventional and Shariah-Compliant Stock Markets. Asian Social Science, 10(22). https://doi.org/10.5539/ass.v10n22p270